Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.
In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of February 1st – 7th, 2021.
Without further ado, let’s get started.
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Unless You’ve Been Living Under a Rock the Past Few Weeks, You’ve Certainly Heard About the Massive GameStop Short Squeeze That Was Triggered By the Large Reddit Investment Group WallStreetBets
A group of Wall Street hedge funds holding large short positions in stocks like GameStop (NYSE: GME), AMC Entertainment (NYSE: AMC), and Blackberry (TSX: BB) (NYSE: BB) (FRA: RI1) were completely blindsided by the power of a single Reddit group and in a scramble to cover their short positions, were forced to take staggering losses. With investors everywhere wondering where the next big squeeze play will come from, here are 4 Cannabis Stocks with all the right ingredients for a major GME style Short Squeeze.
Cannabis Stocks Made Enormous Wealth for its Shareholders in 2018 and 2019 After Pot Was Legalized in Canada and If You Happened to Missed That Rally, Psychedelic Stocks Could Be Next Up for a Major Breakout
Regulatory support and encouraging research outcomes sent Psychedelic Stocks like MindMed (+860%) and Numinus Wellness (510%) through the roof in 2020. The first Psychedelics ETF, the Horizons Psychedelic Stock Index ETF (NEO: PSYK) is currently trading at $9.4 and the ETF’s top holdings include Compass Pathways (NASDAQ: CMPS), Johnson & Johnson (NYSE: JNJ), MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: MMQ), Numinus Wellness (TSXV: NUMI) (OTC: LKYSD) (FRA: LR23), Field Trip Health (CSE: FTRP) (OTC: FTRPF), Cybin Inc. (NEO: CYBN) (OTC: CLXPF), Mydecine Innovations (CSE: MYCO) (OTC: MYCOF) and Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF) (FRA: 31R).
The Cannabis Pharma Market is Quickly Becoming an Enormous Opportunity and Investors Looking to Get Involved Should Follow the “Smart Money”, Which in the MJ Sector Means Paying Close Attention to What Canopy Growth Founder Bruce Linton is Up to
GW Pharmaceuticals (NASDAQ: GWPH) (FRA: GW2A) is leading the charge in the burgeoning cannabis pharma space. Following recent news that Jazz Pharmaceuticals (NASDAQ: JAZZ) (FRA: J7Z) will acquire GW Pharma for $7.2 billion, GWPH shares are now trading at a whopping $214.57 per share. The tremendous performance of GW Pharma has investors searching for the Cannabis pharma sector’s next big winner and one such company with all the right ingredients to potentially experience a similar rise is Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8). Fresh off leading Canopy Growth (TSX: WEED) (NASDAQ: CGC) (FRA: 11L1) shareholders to all-time gains of +4,160%, Bruce Linton’s sights are set on the cannabis pharma space joining forces with sector leader Creso Pharma, which has global operations in lucrative markets worldwide.
Depressive Episodes and Symptoms of Bipolar I Disorder Are Commonly Misdiagnosed as Major Depressive Disorder (MDD) in Primary Care
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) announced the publication of an article led by the company’s CEO Dr. Roger McIntyre on the novel and pragmatic Rapid Mood Screener (RMS), which was developed to screen for manic symptoms and bipolar I disorder features in order to help address this unmet clinical need. The article titled: “The Rapid Mood Screener (RMS): a Novel and Pragmatic Screener for Bipolar I Disorder” is published on the website Taylor & Francis Online.
The Non-Convertible Debenture is Unsecured and Bears Interest at a Rate of 7%, With the Principal Amount and Accrued Interest Payable on April 1, 2022
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced that it closed a debenture unit financing to an arm’s-length investor on a private placement basis. RWB intends to utilize the proceeds from the financing for the expansion of its Platinum Vape business as it prepares to launch in Arizona, to fund certain pre-closing operational plans for its previously announced Illinois THC Cultivation Center License acquisition and for general corporate and working capital.
Curaleaf’s New Store, Located at 5935 4th Street, is Also the Company’s 34th Dispensary in the State, and 98th in the United States
Curaleaf (CSE: CURA) (OTCQX: CURLF) opened the second dispensary in St. Petersburg, Florida. Curaleaf St. Petersburg North brings a diversified portfolio of Cannabis products, including America’s number 1 oil brand, Select, but also some novel products, like quick-acting Nano Chews and Nano Drops, and Sublingual Tablets, among others.
J.R. Rahn to Become MindMed’s Sole CEO; Perry Dellelce to Become Company Chair and Stephen Hurst Retires as Executive But Remains on MindMed Board
MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: MMQ), a leading Psychedelic medicine biotech company, streamlined its leadership team to further develop the company’s strategy of integrating its psychedelic clinical development programs with innovative digital technologies. Under the MindMed 2.0 leadership team, the company is also actively growing its digital medicine division for psychedelic medicines through the hiring of new technologists and undertaking potential technology platform acquisitions.
With Low-Dose CBD Products Now Eligible to Be Sold By Australian Pharmacies OTC Without a Prescription, Creso Pharma is Well-Positioned to Capitalize on This Major New Market Opportunity Estimated to Be Worth Over $200 Million
Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced the company welcomes the commencement of over-the-counter (OTC) sales of low-dose cannabidiol (CBD) products in Australian pharmacies, which officially began on February 1, 2021. “Today is a major milestone for the Australian medicinal cannabis industry, which we anticipate will grow rapidly over the coming months. The TGA’s decision to allow the sale of low–dose CBD products to consumers without a prescription provides Creso Pharma with another exciting opportunity to grow in Australia and another potential revenue stream for the Company,” said Creso’s Adam Blumenthal.
The Nascent Psychedelic Industry is Booming as Several Companies Have Gone Public and More are Expected to Follow This Route in 2021 to Attract More Capital From Institutional and Retail Investors
Competition among the dozens of biopharmaceutical companies is fierce. Many are seeking more capital to conduct expensive and lengthy drug trials and develop intellectual property to synthesize the molecules to help treat various mental disorders. The companies that can bring their Psychedelic drugs to the market first will emerge from the pack and could likely hit a home run. “Within the next six to 12 months, we will see an arms race in the psychedelic space as companies try to innovate and get their drugs to trials and to the market,” says Jason Spatafora, co-founder of MarijuanaStocks.com and head trader at TrueTradingGroup.com. ATAI Life Sciences, a Berlin-based biotech company that is researching both Psychedelic and nonpsychedelic compounds, is expected to go public in 2021.
Enhanced Product Diversification of the Combined Company is Expected to Provide Accelerated Double-Digit Revenue Growth
Jazz Pharmaceuticals (NASDAQ: JAZZ) (FRA: J7Z) announced it has entered into a definitive agreement to acquire GW Pharmaceuticals (NASDAQ: GWPH) (OTC: GWPRF) (FRA: GW2A) for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares, for a total consideration of $7.2 billion, or $6.7 billion net of GW cash. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close in the second quarter of 2021.